Open for Business Stage

In this stage you have a formal business structure and the necessary documents and tools in place to transact business. But if you are just established you may have little or no income, so cost containment is important because it defines the amount of runway you have to find customers. Consider short term income generation steps that will lead to your full vision. During this stage you may devote more time to product development and customer development. Key aspects of customer development and testing your market theory are insertion strategy, messaging plan, lead generation and pricing. The primary risk you face is not whether you can create a working technology but who will pay how much for it–and how to reach likely prospects.